XAU/USD quotes continue to move within the framework of the development of growth and a bullish channel. At the time of publication of the forecast, the price of Gold for today is 2916 Dollars per Troy Ounce. Moving averages indicate the presence of a short-term bearish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from asset buyers and potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a fall and test the support level near the 2900 area. From where we should expect an upward rebound and continued growth in the price of Gold with a potential target above the level of 2985.
GOLD Forecast and Analysis for March 13, 2025
An additional signal in favor of growth in XAU/USD quotes will be a test of the bullish trend line on the relative strength indicator (RSI indicator). The second signal will be a rebound from the lower border of the bullish channel. The option of rising Gold prices on March 13, 2025 will be cancelled if the price falls and the level of 2865 is broken. This will indicate a breakout of the support area and a continuation of the asset’s fall to the area below 2825. It is worth expecting the acceleration of the growth of XAU/USD quotes with a breakout of the resistance area and the price closing above 2945.
GOLD Forecast and Analysis for March 13, 2025 suggests an attempt to develop a bearish price correction and test the support area near the level of 2900. Further, the continuation of the growth of non-ferrous metal quotes with a target above the level of 2985. The option of rising Gold prices will be cancelled if the asset’s value on the markets falls and the level of 2865 is broken. This will indicate a continuation of the decline in the price of Gold with a potential target below the mark of 2825.
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